PetroChina's crude-oil pipeline in northwest region ready to come on line

BEIJING (MarketWatch) -- PetroChina Co.
PTR, -0.95%
is ready to start operating a crude oil pipeline in northwestern China, part of a pipeline network to deliver crude from the oil-rich west to the energy-hungry east, said its parent company China National Petroleum Corp. Monday.

The 1,842-kilometer pipeline has a capacity to transport 20 million metric tons of crude oil a year, or 401,640 barrels a day, said CNPC in a posting on its Web site.

It originates from Urumqi, the capital of the northwest Xinjiang Autonomous Region, and extends to Lanzhou, the capital of neighboring Gansu province, where a 200,000 barrel-a-day CNPC refinery is located.

The pipeline will link with the transnational Kazakh-China crude pipeline in Xinjiang and will be extended eastward via a separate pipeline currently being built to Zhengzhou, the capital of Henan province and Changsha, the capital of Hunan province, it said.

The posting didn't state when the pipeline will come on-line or its oil sources. PetroChina will mostly likely use crude produced in Xinjiang or imported from Kazakhstan for it.

The pipeline is parallel with an oil products pipeline that started operation last September.

PetroChina is China's largest oil company by output, and owns over half of oil pipelines in China.

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